Question

Sales for the year ended 31st March, 2016 amounted to Rs 10,00,000. Sales included goods sold to Mr.A for Rs 50,000 at a profit of 20% on cost. Such goods are still lying in the godown at the buyer's risk. Therefore, such googs should be treated as part of
[a] Sales [b] Closing inventory
[c] Goods in transit [d] None of the above

Answer 1

Answer:

Option

Explanation:

B . Closing inventory